Reports will not show income accounts

Mike or Penny Novack stepbystepfarm at mtdata.com
Sun Dec 16 09:31:38 EST 2007


>I then open the options on the report and select all assets
>
>  
>
Walter, your problem might have nothing to do with GnuCash but instead 
with accounting concepts

"income" accounts would NOT be "asset" accounts. In other words, this is 
a wrong chart of accounts "assets:income:Salary". Instead, "salary" 
should be of account type "income" (a temporary category. Let's say you 
have just received a paycheck. The transaction recording that might 
debit your checking account (the asset type account where you deposited 
your paycheck) and credit your salary account (an income account, 
technically a temporary account of type "equity" --- at the end of the 
accounting period the temporary income and expense accounts are closed* 
into equity). The only "standing" accounts (permanent accounts) are of 
types asset, liability, and equity.

Might I suggest you use the tutorial to go over "accounting concepts". 
GnuCash is an accounting TOOL. Use of a tool doesn't relieve you of 
understanding the basics. It's a lot easier (a lot less work) to use an 
autoposting system like GnuCash than to post entries by hand the old 
fashioned way pen and ink on paper -- but you still have to understand 
the basics. If the tutorial doesn't prove to be enough, you'll need to 
read some books on basic accounting concepts.

Michael D Novack

* AFAIK the "autoclose" function of GnuCash does not yet exist. One of 
the things I suspect I might get drafted to create for assuming my 
organization approves using GnuCash.

-- 
There is no possibility of social justice on a dead planet except the equality of the grave.



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